Why $50 is being taken off your next QLD power bill

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It’s that time of the year again, the time when Queenslanders receive $50 off their next electricity bill. Score.

For households that haven’t already passed GO and collected the $50, you’ll be happy to know that the $50 asset dividend will apply directly to electricity bills, without you needing to apply.

And if your memory’s shot, this isn’t the first time you’d have received it, as this has been running since April 2018 as part of the state government’s Affordable Energy Plan.

The dividend is in addition to the $200 coronavirus response contribution electricity bill-payers received earlier in the year.

This credit is made possible due to Queensland’s public ownership of power assets, such as Powerlink, Ergon and Energex, and is planned to continue on to 2021.

Energy Minister, Dr Anthony Lynham, explained how public ownership in this instance benefits Queensland residents.

“The dividends from our publicly-owned companies flow not to multinational shareholders overseas, but to Queensland families across the state,” he said.

Premier Annastacia Palaszczuk has at least partly attributed this payment to the Queensland government’s COVID-19 economic response.

“Queensland has an economic strategy for recovery from the global coronavirus and it is important to help households pay their power bills during these tough times,” she said.

The payment extends to all of Queensland, including those in regional Queensland with Ergon, where it has already applied to some bills. This includes home owners, tenants, customers who receive an electricity bill from their landlord or body corporate, and customers in communities with card-operated meters.

The savings will appear as people receive bills over the next few months.

Example $50 bill credit
Example of retailers alerting customers of the $50 credit.

More savings at your fingertips

Canstar Blue Editor-in-Chief, Simon Downes, said that the support will surely be welcomed by Queensland households, further savings are still possible for those willing to shop around for a better deal.

“No one’s denying that the asset dividend payment is coming at a welcome time, but for most people, there are even greater savings possible if you know where to look,” he said.

“In fact, the cheapest deal on our database for south-east Queensland shaves almost $400 off the default tariff.

“Now that we’re all bunkering down at home a bit more, it’s a better time than ever to take the time to compare your offer with others in the market. You never know what you could stand to save.”

Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision. The next three tabs feature products exclusively from AGL, EnergyAustralia and Origin.

Here are the AGL Energy plans on our database for SE QLD. These are products from a referral partner†. These costs are based on the Energex energy network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are the EnergyAustralia plans on our database for SE QLD. These are products from a referral partner†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are the Origin Energy plans on our database for SE QLD. These are products from a referral partner†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area and to see other products in our database that may be available. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Image credit: Maythee Voran/shutterstock.com

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